Daily Markets Broadcast: DAX Looks To Slide. WTI Closed Higher

MarketPulse | Jan 15, 2020 12:08AM ET

US equities moved higher yesterday but have started negatively this morning as the US and China prepare to sign the first phase of a trade deal later today. Reports circulated that there will be no more US tariff cuts before the November election, subject to China’s adherence to the terms of the deal.

US30USD Daily Chart

The US30 index is hovering just below record highs after again touching above the 29,000 mark yesterday.

The 55-day moving average, which has supported prices since October 10, has moved up to 28,087.
It’s mostly second-tier data on the agenda today, with December producer prices and the January NY Empire State manufacturing index the only items scheduled. Fed’s Harker is also due to speak.
DE30EUR Daily Chart

The Germany30 index looks set to slide for a second day following the negative mood on Wall Street.
The index is still above the 55-day moving average at 13,200, which has supported prices on a closing basis since October 8.
Euro-zone industrial production probably fell 1.1% y/y in November, according to the latest survey of economists. The region’s trade surplus is seen narrowing to €23.3 billion in the same month from €28.0 billion prior. There are no German data releases scheduled for today.
WTICOUSD Daily Chart

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West Texas Intermediate (WTI) closed higher yesterday for the first time in seven days despite data showing an increase in US oil stockpiles
WTI is holding above the 100-day moving average at $57.19, which has supported prices since December 3
Data released yesterday by the American Petroleum Institute showed an increase of 1.1 million barrels in the week to January 10, a sharp turnaround from the previous week’s decline of 5.95 million barrels. Tonight’s data from the Energy Information Administration is expected to show a decline of 750,000 barrels after a 1.16 million barrel increase the week earlier.
Original Post

Written By: MarketPulse

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